Immunomedics, Inc. (IMMU) Given Consensus Recommendation of “Buy” by Brokerages
Immunomedics, Inc. (NASDAQ:IMMU) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $14.67.
IMMU has been the subject of several research analyst reports. BidaskClub downgraded shares of Immunomedics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Immunomedics from a “sell” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC set a $9.00 target price on shares of Immunomedics and gave the stock a “buy” rating in a research note on Saturday, June 10th.
Immunomedics (IMMU) traded down 5.82% during mid-day trading on Friday, hitting $11.66. The stock had a trading volume of 2,498,625 shares. Immunomedics has a 52-week low of $2.02 and a 52-week high of $14.48. The firm has a 50-day moving average of $11.78 and a 200-day moving average of $8.54. The stock’s market cap is $1.30 billion.
Immunomedics (NASDAQ:IMMU) last posted its earnings results on Wednesday, August 16th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.13). The company had revenue of $0.64 million during the quarter, compared to analysts’ expectations of $0.75 million. Immunomedics’s revenue was down 31.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) earnings per share. On average, analysts forecast that Immunomedics will post ($0.53) EPS for the current fiscal year.
In other news, insider David M. Goldenberg sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $12.64, for a total transaction of $252,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cynthia L. Goldenberg sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $10.72, for a total transaction of $428,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,000 shares of company stock valued at $1,051,200. Corporate insiders own 6.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in Immunomedics by 260.6% during the second quarter. FMR LLC now owns 5,496,851 shares of the biopharmaceutical company’s stock worth $48,537,000 after acquiring an additional 3,972,388 shares during the last quarter. State Street Corp boosted its position in Immunomedics by 37.2% during the second quarter. State Street Corp now owns 4,818,847 shares of the biopharmaceutical company’s stock worth $42,549,000 after acquiring an additional 1,305,298 shares during the last quarter. Vanguard Group Inc. boosted its position in Immunomedics by 2.4% during the second quarter. Vanguard Group Inc. now owns 4,522,091 shares of the biopharmaceutical company’s stock worth $39,930,000 after acquiring an additional 105,558 shares during the last quarter. Farallon Capital Management LLC boosted its position in Immunomedics by 1.7% during the second quarter. Farallon Capital Management LLC now owns 4,227,500 shares of the biopharmaceutical company’s stock worth $37,329,000 after acquiring an additional 72,500 shares during the last quarter. Finally, Redmile Group LLC acquired a new stake in Immunomedics during the first quarter worth approximately $21,874,000. Hedge funds and other institutional investors own 57.36% of the company’s stock.
Immunomedics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Its geographic segments include United States and Europe. Its technologies allow it to create humanized antibodies that can be used either alone in unlabeled or naked form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins.
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